THE PRICE LEVELS

Manawatu Standard, Volume LIV, Issue 110, 9 April 1934, Page 4

THE PRICE LEVELS

INTERESTING STATISTICAL SURVEY. EXPORT VALUES RISE. Price index numbers in most countries show a definite upward movement as compared with levels at this time last year, and index numbers of prices in New Zealand have responded to this general upward trend, reports the Government Statistician.

The export-prices index, which is the most sensitive of the New Zealand series in reacting to external influences, was 2G per cent, higher last month than in February, 1933. The wholesale-prices general index was 2 per cent, higher than in the previouj February, a slight fall in the index for imported items (which, however, rose sharply between January and February last year) being more than counteracted by an increase in the index number of prices of locally produced items. The retail prices—all groups—index number, which is slower than other indices to move upward or downwaid, was in February 1 per cent, higher than in the same month of 1933.

The outstanding feature of the prices statistics for the month of February is the sharp rise in the export-price index number for wool, which is now 1441 (on the base: average price lulling during 1909-13 equal 1000), an increase of 31.1 per cent: on export prices of this commodity in 1914. Despite recessions in the index numbers for dairy products and meat, the “all groups” exportprices index rose from 1103 in January to 1109 in February. The index number for the meat group, which rose sharply between October and, November, is still—despite the fall between January and February—the highest individual index number of the pastoral group. Tho wholesale prices index number conunued its gradual upward movement, the February index number 1339 (on the base: 1009-13 equals 1000) being 3 points higher than the January figure. Retail prices statistics relating to February 15 show that the index number of food prices has advanced slightly since January—mainly owing to an increase in retail prices of meat. Statistics as to house rents, clothing, drapery, and footwear prices, and of prices of miscellaneous items of household expenditure were collected in February, the all-groups index showing an increase of, 4 points or 0.5 per cent, since the previous compilation (in November last). The February index number of house rents, which is compiled only twice a year (in February and August), was 3 points or 0.4 per cent. lower than the August, 1933, index. The decrease in this index between the last two collections is considerably less thnn has been recorded at successive collections for three years previously.